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Durham University

Faculty Handbook 2022-2023

Module Description

Please ensure you check the module availability box for each module outline, as not all modules will run each academic year.

No such Code for prog: L112

Department: Economics and Finance

ECON1071: Introduction to the International Economy

Type Tied Level 1 Credits 20 Availability Available in 2022/23 Module Cap Location Durham
Tied to L100 Economics
Tied to L106 Economics with Placement Year
Tied to L109 Economics with Study Abroad
Tied to L1R1 Economics with French
Tied to L103 Economics with Management
Tied to L104 Economics with Management with Placement Year
Tied to L105 Economics with Management with Study Abroad
Tied to LL12 Economics and Politics
Tied to LL02 Economics and Politics with Placement Year
Tied to LL01 Economics and Politics with Study Abroad
Tied to VL52 Philosophy, Politics and Economics
Tied to VLL6 Philosophy, Politics and Economics with Placement Year
Tied to VLLA Philosophy, Politics and Economics with Study Abroad
Tied to CFG0 Natural Sciences
Tied to FGC1 Natural Sciences with Placement
Tied to FGC0 Natural Sciences
Tied to CFG1 Natural Sciences with Year Abroad
Tied to CFG2 Natural Sciences with Placement
Tied to LA01 Liberal Arts
Tied to LA02 Liberal Arts (with Year Abroad)
Tied to LMVA Combined Honours in Social Sciences (with Year Abroad)
Tied to LMV0 Combined Honours in Social Sciences
Tied to L112
Tied to N305 Finance
Tied to N306 Finance with Placement Year
Tied to N307 Finance with Study Abroad

Prerequisites

  • None

Corequisites

  • Either Principles of Economics (ECON1011) or Introduction to Economics (ECON1101).

Excluded Combination of Modules

  • None.

Aims

  • Provide students with knowledge and understanding of the fundamental features of different types of economy, and of world trade and the international financial system.
  • Provide students with an understanding of international trade theory, of economic growth and economic transition/transformation.
  • Inform students of key concepts relevant to understanding/analysis of important developments and crises in the world economy.
  • Offer the opportunity to develop key skills.

Content

  • A range of material is covered at an introductory level with emphasis on topics such as:
  • Theories of knowledge. Science and social science.
  • Economic growth
  • Economic systems
  • International trade and protectionism
  • International factor movements.
  • The balance of payments and national income. Current, capital and financial accounts.
  • The determinants of imports, exports, financial flows.
  • Exchange rate analysis
  • The evolution of the international monetary system.
  • The economics of international integration
  • The evolution of the EU.
  • Economics Growth and development.
  • Global demographic trends.
  • The historical evolution of the US economy: Rise and fall of the ‘Socialist’ systems. The USSR and Eastern Europe.
  • East Asian growth miracle: China.
  • Emerging south Asian giant: India.
  • Resource curse economies: Case studies in Africa, and the Middle East.
  • The science, economics and politics of climate change.
  • Technological change, AI, robotics and the future of employment.
  • The rise and fall (?) of liberal democracy.
  • The political economy of international terrorism.

Learning Outcomes

Subject-specific Knowledge:
  • Understanding of the key features of different types of economic system.
  • Understanding of key institutions in the world economy.
  • Knowledge and understanding of relevant economic concepts.
  • Understanding the causes and impact of change on economies.
Subject-specific Skills:
  • Ability to explain the underlying reasons for changes in economies/economic systems.
  • Ability to analyse the strengths and weaknesses of economic systems.
  • Ability to identify, interpret and use information for the study of economies and the world economy.
Key Skills:
  • Examples are provided to demonstrate how students will have the opportunity to develop the following key skills:
  • Written Communication - by completing formative and summative assignments.
  • Problem Solving - by applying the necessary analytical techniques in preparing assignments.
  • Initiative - by searching relevant literature and other information in preparation for the formative assignment and the examination.

Modes of Teaching, Learning and Assessment and how these contribute to the learning outcomes of the module

  • Teaching is by lecture and seminars. Learning takes place through attendance at lectures, preparation for and participation in seminars, and private study. Formative assessment is by means of an assignment. Summative assessment is by means of an examination.

Teaching Methods and Learning Hours

Activity Number Frequency Duration Total/Hours
Lectures 44 2 per week 1 hour 44
Seminars 8 1 per fortnight 1 hour 8
Preparation and reading 148 148
Total 200

Summative Assessment

Component: Assignment Component Weighting: 40%
Element Length / duration Element Weighting Resit Opportunity
One essay 1500 100% same
Component: Examination Component Weighting: 60%
Element Length / duration Element Weighting Resit Opportunity
Written examination 2 hours 100% Same

Formative Assessment:

A written assignment of 1,000 words.


Attendance at all activities marked with this symbol will be monitored. Students who fail to attend these activities, or to complete the summative or formative assessment specified above, will be subject to the procedures defined in the University's General Regulation V, and may be required to leave the University



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